PROJECTS OVERVIEW

The Company’s initial exploration programme and objectives are to:

• Assess the nickel and gold potential of the Waite Kauri/Randwick projects, including immediate drill testing of the southern extensions of GME Resources Limited’s oxide nickel deposits adjacent to the Company’s project area.

• Evaluate the Leonora East Project for its gold and base metal potential, including drill testing.

• Acquire and compile the historical data for all of the projects, and evaluate the data to advance the exploration programmes, including the identification of drilling targets.

• Identify and evaluate other mineral exploration opportunities for acquisition, exploration and development.

The Waite Kauri/Randwick and Leonora East projects are centred within the Leonora-Laverton region and are comprised predominantly of tenements with granted tenure and are in close proximity to historical or existing gold or nickel resource positions. These projects have been assessed as highly prospective and are ready for immediate drilling so as to facilitate a rapid and positive post ASX Listing start to exploration by Eagle Eye.

Waite Kauri Projects

The project area hosts a sub to outcropping sequence of intermediate volcanics, with interlayered mafic and ultramafic units that are partially covered by alluvium/ colluvium. This is an excellent geological environment to host both nickel oxide & nickel sulphide mineralisation. The tenements directly adjoin GME Resouces Limited’s Waite Kauri nickel oxide discovery, and the indications are that the mineralisation runs directly into Eagle Eye’s Project area, to be tested by drilling soon after ASX Listing.

Randwick Project

The Randwick project lies 40kms to the north east of Leonora, and is on the northern strike extensions of the structure that hosts the Randwick-Anglo Saxon gold workings and surround these workings to both the west and north. This corridor hosts high grade gold mineralisation and strikes into Eagle Eye’s project area. Drill testing of this structure will be undertaken in concert with the exploration activities at Waite Kauri.

Leonora East Project

The project area covers an extensive strike length of prospective stratigraphy with known gold and base metals occurrences. In addition the geological environment is not dissimilar to that 50kms along strike to the north, where the Jaguar-Teutonic Bore copper-zinc-silver deposits are found – exploration for these types of deposit has been limited to date. Prospective gold and base metals targets have been identified for drilling as soon as practicable after the Prospectus fund raising and ASX Listing programme is completed.

Mertondale Project

The Mertondale project is located 30kms to the northeast of Leonora and to the west of the recent gold mining operations at Mertondale, where Navigator Resources are currently delineating a substantial resource position. Exploration by Geopeko and Ashton Gold has generated a substantial surface gold anomaly, within Eagle Eye’s project area, that has only been partially tested with RAB drilling, and requires further exploration.

Apollo Hill Project

The Apollo Hill project is located 46kms to the south east of Leonora, adjacent to Kookynie Terrane. The tenement also lies adjacent and along strike from the Apollo Hill-Porkies resources, which reportedly contain a substantial non-JORC compliant resource.

Erlistoun Project

The Erlistoun project is located on the Duketon Greenstone belt, 67kms to the north of Laverton. The Project is prospective for both gold and nickel mineralisation. A database of the previous exploration is currently being compiled from the historical reports and will be utilized to further evaluate the tenement areas and to allow the targeting of future exploration. The data indicates the potential for a significant shallow gold resource, based on the initial evaluation of the historical data. The ‘Erlistoun Line’ is a series of historical gold mines that include the Erlistoun Queen, Battler & Caledonia. These mines were operated at various times between 1900 and 1955 and were of particularly high grade, over 30 gpt Au. The presence of this tenor of mineralisation provides strong encouragement for continued exploration; the Caledonia workings are located within the western half of M 38/561.

Little Doris Project

The Little Doris project is located on the Duketon Greenstone belt, 56kms to the north of Laverton. The tenements overlie a sequence of prospective greenstones that include amphibolite facies ultramafic, mafic and felsic volcanic stratigraphy and lie on the eastern side of the Mt. Varden Transfer, a region fault structure. The tenements also contain the historical ‘Little Doris’ workings. The ‘Little Doris’ mine was in production between 1898 and 1907 and was of particularly high grade, over 42 gpt Au. The presence of this tenor of mineralisation provides strong encouragement for continued exploration, especially for repetitions or extensions to the historical system.

Wandry Well Project

The Wandry Well project is located is 76kms to the south east of Leonora, 4kms to the north-west of the historical gold mining centre of Yerilla. The tenements overlie a partially covered sequence of ultramafic, basaltic and volcanoclastic greenstones on the western margin of the southern Leonora Greenstone Belt. Exploration in the 1960s & 1970s focused on nickel mineralisation and included some drilling by both Cominco Exploration & Australian Selection. Exploration since the 1980s has concentrated on gold mineralisation, with groups such as Great Central Mines and CRA Exploration only having undertaken limited surface sampling and drilling. The project is prospective for both gold and nickel mineralisation.

WAYNE RYDER
FCA FAICD SME
Executive Chairman and Company Secretary

Wayne has an extensive track record in the mining resources sector over many years, including having held Directorships with a number of successful explorers and producers such as Forsayth Mineral Exploration, Condor Minerals & Energy (Mt Horner, Dongara WA oil field), Kitchener Mining (Bamboo Creek, WA gold mine), Great Eastern Mines (Aga Khan emerald mine at Cue, WA) and Lightning Ridge Mining (opal mining at Lightning Ridge, NSW).

He has spent considerable time in the United States, working from his own Coral Resources exploration headquarters in Denver, Colorado and New York where he was a member of the prestigious New York Mining Club. As a consequence, he has developed excellent associations with US based exploration groups, as well as key US capital market resource investors.

Wayne is the principal of long established Chartered Accounting and Corporate Advisory Firm W. Ryder & Co. His Firmís clients are based in Australia and several other countries, especially China, Hong Kong and the United States, and include south of France based Continental Industrie, a large dealer in mining equipment world-wide.

He is a Fellow of the Institute of Chartered Accountants in Australia, a Fellow of the Australian Institute of Company Directors and a Member of the Society of Mining, Metallurgy and Exploration in the United States.

WARREN JOHN STAUDE
BSc MSc MAusIMM ASIA
Non-Executive Director

Sydney based, Warren has long term professional experience in mining and mineral exploration, resource investment and portfolio investment management.

Over the past 20 years he has been engaged mostly in institutional investment management and research, working in AMP and GIO. Following AMPís takeover of GIO he assumed a leading role in establishing a specialist international resource equity investment fund and in assisting corporations in fund raising and with corporate advice. Previously he has worked as a Consulting Geologist in both Government and industry, and on the academic staff at Macquarie University.

Warren is a Director of minerals explorers Malachite Resources Limited, Tasgold NL and Central West Gold NL.

He is a Graduate of the University of Sydney (BSc, Geology), Macquarie University (MSc, Mineral Economics), and holds a Graduate Diploma from the Securities Institute of Australia, and sits on the Joint Ore Reserves Committee (JORC) and the VALMIN Committee.

GARRY PLOWRIGHT
Non-Executive Director

Garryís career includes over 15 years experience in commercial and technical development within the mining industry, working for some of Australiaís leading resource companies. He has been mostly involved in gold, base metals and iron ore exploration and mining, predominantly in Western Australia. He brings to the Board considerable experience and knowledge associated with the supply and logistics of services to the mining industry, tenement management and issues relating to land access, native title, and community consultation.

Garry has held management positions in the private sector of the mining industry, including mapping and GIS management for various small, medium and large capped companies. He has an extensive background in mining law and administration and has provided services to the industry in tenement management and administration, property acquisitions, project generation and joint venture negotiations.

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